KOSPI briefly touches the 6,750 level intraday, then turns slightly lower; KOSDAQ falls 1% [fn morning market report]

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[Financial News] The KOSPI Composite Index has been moving in a narrow range after setting a new intraday high. The KOSDAQ is down more than 1%.\r\nAccording to the Korea Exchange (KRX) on the 30th, at 12:47 p.m. the KOSPI was trading at 6,674.27, down 16.63 points, or 0.25%, from the previous session. The index opened 0.72% higher at 6,739.39 and at one point rose to 6,750.27 intraday. 
\r\nIn the main board market, individual investors have bought 289.9 billion won worth of shares, while foreign investors have purchased 102.1 billion won. Institutions are net sellers, with 362.3 billion won in selling pressure.
\r\nBy sector, food and tobacco rose 1.29%, financials gained 0.37%, and electricity and electronics added 0.23%. Construction fell 3.64%, metals dropped 2.3%, and chemicals declined 2.05%.
\r\nAmong the largest-cap stocks, Samsung Electronics Co., Ltd. fell 0.33%, Hyundai Motor Company lost 3.24%, LG Energy Solution declined 1.8%, and Doosan Enerbility dropped 1.32%. SK Hynix rose 1.01%, SK Square gained 2.89%, and Hanwha Aerospace Co., Ltd. advanced 0.49%.
\r\nOvernight, U.S. stocks closed mixed, with no clear direction despite expectations for strong earnings from semiconductor and tech names such as Intel Corporation and Micron Technology, Inc. West Texas Intermediate crude oil (WTI) jumped 8% on uncertainty surrounding the Strait of Hormuz, while the hawkish results of the April Federal Open Market Committee (FOMC) meeting also weighed on sentiment. The Federal Reserve System (the Fed) kept its benchmark rate unchanged at 3.5% to 3.75%. However, as four FOMC members voiced opposition to the decision to hold rates steady, the market interpreted the outcome as hawkish, signaling monetary tightening.
\r\nKang Jin-hyuk, a researcher at Shinhan Securities Co., Ltd., said, "Despite the surge in oil prices and the hawkish FOMC, strong earnings from major domestic companies are supporting the lower end of the index." He added, "As interest in energy has risen since the Iran situation, share prices of related companies that reported strong earnings are on the rise."
\r\nAt the same time, the KOSDAQ Index (KOSDAQ) was trading at 1,203.18, down 17.08 points, or 1.40%, from the previous session. The index opened 0.37% higher at 1,224.75 and then widened its losses.
\r\nIn the KOSDAQ market, individual investors are buying 425.2 billion won worth of shares on their own. Foreign investors and institutions are net sellers, with 264.8 billion won and 122.5 billion won in selling pressure, respectively.
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nodelay@fnnews.com Park Ji-yeon Reporter